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Yen Surges In Early Trading, Takes Out USDJPY 102 Stops

Tyler Durden's picture





 

"Easy come, easy go, when the market is GETCO"

That should be the motto of every momentum trader who decided on Friday to buy the USDJPY just because it was 2pm, and then, when 3:30 pm came around, and the momentum chasing algos woke up, then pat themselves on the back for a "job well done." Because in early trading, before even the Japan open, the USDJPY, following on comments by Japan's econ minister Amari, as noted here earlier, that the days of easy JPY devaluation are over, collapsed by over 120 pips from a closing print of 103.20, and tumbled in a span of second to just under 102, taking out all 102 stops, before the GETCO plunge protection algo team took over and sent the pair back up, however briefly.

Of course, Japan has yet to wake up and read the comments from Amari. At that point should the Mrs Watanabe retreat bugle sound, all bets are off, and just as the momentum was so instrumental in sending the USDJPY over 103, so it may push the pair in double digit territory in almost no time. As for JGB vol and the dreaded VaR storm, well: good luck to Japanese banks which may be nursing up to JPY10 trillion in capital losses soon.

 


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Sun, 05/19/2013 - 18:14 | Link to Comment BeetleBailey
BeetleBailey's picture

Silver...I want to shoot every cocksucking, shit eating banker on the planet

Sun, 05/19/2013 - 19:29 | Link to Comment negative rates
negative rates's picture

So that's what momemtum trading is all about.

Sun, 05/19/2013 - 18:24 | Link to Comment Yen Cross
Yen Cross's picture

    I closed 1/2 of my yen trade Friday.(it's documented)

   [IMG]http://imageshack.us/a/img825/1797/update5182013uj.png[/IMG]

Sun, 05/19/2013 - 18:35 | Link to Comment BigInJapan
BigInJapan's picture

Good work!

No need for proof, yo.
I believe you.

Sun, 05/19/2013 - 18:41 | Link to Comment DeadFred
DeadFred's picture

Looks like support at 100. You going to get back in then?

Sun, 05/19/2013 - 18:47 | Link to Comment Yen Cross
Yen Cross's picture

  Short gbp/aud.

Sun, 05/19/2013 - 19:52 | Link to Comment malikai
malikai's picture

Looks like a long way down on gbpaud.

Sun, 05/19/2013 - 20:13 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

The last true trader here, with the courage to face the fear and post their results.

 

 

/respect

Sun, 05/19/2013 - 18:15 | Link to Comment GOLD AND SILVER...
GOLD AND SILVER NATZI's picture

OMG, Silver is down $1.71 near open?!?!  UGH.......  :(

Sun, 05/19/2013 - 18:16 | Link to Comment lolmao500
lolmao500's picture

Always...

Sun, 05/19/2013 - 18:16 | Link to Comment ekm
ekm's picture

Now that the world governments are buying all bonds in the seas, on the earth and UP in the sky, they only VISIBLE check on money printing have become ENERGY/CRUDE OIL.

Sun, 05/19/2013 - 19:57 | Link to Comment MFLTucson
MFLTucson's picture

This is what happens when you have a handful of Jewsih bankers rigging the game.  The whole sytemm is upside down.  Gold and Silver paper down and Google stock up in the middle of a depression!  What a disgusting mess.

Sun, 05/19/2013 - 18:19 | Link to Comment JustObserving
JustObserving's picture

Silver down to $20.28.  That is like an eight standard deviation event.  Can only happen in 3.2 billion years of trading by chance.

Wait a week - silver will be cheaper than copper.

Sun, 05/19/2013 - 18:20 | Link to Comment oddjob
oddjob's picture

So we should expect a similar move again next Sunday night.

Sun, 05/19/2013 - 18:26 | Link to Comment Agstacker
Agstacker's picture

Good Lord I'm buying tomorrow...

Sun, 05/19/2013 - 18:35 | Link to Comment Stares straight...
Stares straight ahead's picture

Absolutely! And watch gold follow. Up to my teeth in gold but have been waiting patiently to buy more. Wait til mid June.

Sun, 05/19/2013 - 19:21 | Link to Comment Lore
Lore's picture

Yah. Elderly traders are going to look back on these days with nostalgia.

Sun, 05/19/2013 - 18:19 | Link to Comment fonzannoon
fonzannoon's picture

This is going to be an interesting week.

Sun, 05/19/2013 - 18:21 | Link to Comment Yen Cross
Yen Cross's picture

  The 23somethings are running like rats on a 'water heater'. I love this shit! Junk away ;D

Sun, 05/19/2013 - 18:33 | Link to Comment BigInJapan
BigInJapan's picture

To za rifebotozu!

Sun, 05/19/2013 - 18:41 | Link to Comment ISEEIT
ISEEIT's picture

Head fake?

The Yen is?

Sun, 05/19/2013 - 18:48 | Link to Comment MFLTucson
MFLTucson's picture

When does this fucking fraud end?

Sun, 05/19/2013 - 18:55 | Link to Comment MFLTucson
MFLTucson's picture

300% Debt to GDP and their currency is up?  When does this insanity end.  

Sun, 05/19/2013 - 18:56 | Link to Comment Sutton
Sutton's picture

So I guess ben buys dollar/yen?

Sun, 05/19/2013 - 21:52 | Link to Comment ISEEIT
ISEEIT's picture

Whew..Just finished counting all my 'junk' silver again.

Every quarter and dime still there. I don't care all that much what they offer me in pieces of TP for my babies. I can wipe my ass with lot's of different things. Hell, I don't need to wipe it at all but doing so makes me feel better.

I'll keep the coins for later, when I need 'em.

Mon, 05/20/2013 - 14:08 | Link to Comment Youri Carma
Youri Carma's picture

Japs always held a healthy way of suicide. It's all in the culture you know.

Do NOT follow this link or you will be banned from the site!